What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for 21st November, below. You can swap your dollar for Naira at these rates.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1745 and sell at N1755 on Thursday 21st November 2024, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1745 |
| Selling Rate | N1755 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Buying Rate | N1687 |
| Selling Rate | N1688 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Dangote Refinery Seeks Loan To Boost Crude Supply, Production
The Dangote Petroleum Refinery is actively pursuing funding to secure billions of dollars for crude oil imports and ramp up production capacity, according to recent reports.
Despite launching a naira-for-crude agreement last month, which facilitated the supply of four cargoes, the refinery is still in need of significant financing to meet its full operational potential.
A report from the Financial Times on Sunday revealed that Chairman of the Dangote Group, Aliko Dangote, is negotiating with commercial banks, development lenders, oil traders, and other stakeholders to secure funds.
Insiders estimate that around $2 billion would be required every 90 days to maintain a baseline supply of 300,000 barrels of crude per day (b/d).
The refinery, which has a maximum capacity of 650,000 b/d, needs additional crude oil to achieve this target.
Earlier this year, a senior Dangote executive, Devakumar Edwin, disclosed that the refinery had sourced crude from the U.S. and Brazil and was in talks with African producers like Libya and Angola.
Last week, the refinery entered an off-take agreement with the Independent Petroleum Marketers Association of Nigeria (IPMAN) to distribute refined products, including petrol and diesel, directly from the plant.
Since its launch, the facility has begun producing jet fuel, naphtha, and petrol, raising hopes of reducing Nigeria’s dependency on imported fuel.
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